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Adani Group Stocks Rise High Allegations of Corporate Fraud against Gautam Adani are Wrong

Regarding the Securities and Exchange Board of Indiau2019s (SEBI) inquiry into short-seller Hindenburgu2019s claims, the Adani Supreme Courtu2019s hearing concluded with the postponement of a decision on several public interest cases that claimed contempt of court against the SEBI on November 24.<br><br>Chief Justice DY Chandrachud stressed in the Adani Supreme Court hearing that the reportu2019s claims cannot be assumed to be genuine.

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Adani Group Stocks Rise High Allegations of Corporate Fraud against Gautam Adani are Wrong

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  1. Adani Group Stocks Rise High: Allegations of Corporate Fraud against Gautam Adani are Wrong

  2. In a record-breaking equities market, the Adani Group has risen to the top with a market worth of Rs 13.85 lakh crore, thanks to an increase of more than $43 billion in the company’s shares since November. A significant factor that has increased investor interest is the Supreme Court’s November hearing, which vindicated the Group’s position in response to the Hindenburg claims.

  3. U.S. Government’s Clean Chit An investment of $553 million was announced in Adani Ports’ deep-water container port project in Colombo about a month ago by the U.S. International Development Finance Corporation, an agency of the United States government. Bloomberg cited an anonymous senior source on Tuesday saying that the United States government decided that the corporate fraud claims made by Hindenburg Research against the Adani Group were unfounded and that the development finance agency could proceed with extending funds for the Colombo project.

  4. Supreme Court Reaffirms Trust in SEBI Regarding the Securities and Exchange Board of India’s (SEBI) inquiry into short-seller Hindenburg’s claims, the Adani Supreme Court’s hearing concluded with the postponement of a decision on several public interest cases that claimed contempt of court against the SEBI on November 24. Chief Justice DY Chandrachud stressed in the Adani Supreme Court hearing that the report’s claims cannot be assumed to be genuine. We are under no obligation to take the Hindenburg report at its value. This is why we requested an investigation from SEBI, he said.

  5. Budget of 7 Lakh Crore Rupees To grow its core competency—infrastructure—the Adani Group plans to invest 7 lakh crore rupees in capital expenditures over the next 10 years. The Group’s CFO, Jugeshinder Singh, recently presented a plan for six firms to use the bond market to finance their development. These companies are involved in electricity, ports, airports, and transportation. He added that debt issuances in global capital markets would meet up to 80% of the financing needs, with the remaining 20% coming from local sources. In addition, Singh emphasized the Group’s plan to shift its emphasis away from its fast-moving consumer products industry and toward improving capital efficiency and expanding its infrastructure division, which has historically had better profit margins.

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